Laserfiche WebLink
Plum Valley Heights Subdistrict of the <br /> Roxborough Water and Sanitation District, <br /> The Department of Natural Resources, Colorado Water Conservation Board <br /> Re: Loan and Promissory Note <br /> August 19, 2015 <br /> Page 3 <br /> or any other State or local law that prevent the Loan Contract and the Note from <br /> binding the Subdistrict. <br /> 4. The Loan Contract will be valid and binding against the Subdistrict, <br /> pursuant to its terms, if entered into by the CWCB. <br /> 5. All of the taxable property located within the boundary of the <br /> Subdistrict is subject to the levy of an ad valorem property tax, not to exceed 50 <br /> mills, in an amount together with revenues generated by any user rates or charges <br /> imposed by the Subdistrict, sufficient to pay the principal of and interest on the <br /> Note, pursuant to its terms. <br /> 6. The Subdistrict has complied with the requirements of Article X, <br /> Section 20 of the Colorado Constitution in connection with the Election and the <br /> execution and delivery of the Loan Contract and Note. <br /> This opinion is rendered on the basis of the laws of the State of <br /> Colorado as enacted and construed on the date hereof. Except as specifically stated <br /> herein we express no opinion: (a) as to the ability of the Subdistrict to perform its <br /> obligations under the Loan Contract and the Note, (b) as to the financial condition of <br /> the Subdistrict or the sufficiency of the security provided for repayment of the loan <br /> as set forth in the Loan Contract and the Note, or (c) as to any matter not set forth in <br /> the numbered paragraphs herein. <br /> This letter and the opinions expressed herein are limited to the use of the <br /> addressees as set forth above, and may not be relied upon by other parties, and may <br /> be relied upon only as stated herein. This letter and the opinions expressed herein <br /> may not be quoted, reproduced or referred to in whole or in part without the Firm's <br /> express written consent except in the transcript of proceedings prepared in <br /> connection with the Loan Contract. <br /> Sincerely, <br /> ICENOGLE SEAVER POGUE <br /> A Professional Corporation <br />